This project was a pass-time for me when I was a student. It is an emulator for Gameboy/Gameboy Color games, and was a rewrite from another open-source project (by a certain Rusty Wagner).
The project never hit the stable rate as it was more for myself than anyone else. Originally, there were three different editions available, but ultimately, this one is the most stable (but with the least extra features). It is still far from bug-free, and hardly finished.
For a time, the application had its own website and download page, and during that time was closed source. As I no longer do anything with it, similar to its original author, it gets released as open-source as well.
The project was entirely designed in Borland C++ Builder 5 & 6. You will probably need it if you want to fork it. For viewing the code, any text editor will do.
To simply run the app, check out the enclosed README.TXT as it contains the proper system requirements. In today's terms, any computer manufactured in the last decade, running Windows, will be able to run it. It has also been confirmed to work under linux using Wine.
Currently, only the complete source of the latest Lite Edition (which is version 2.04) is available as it's the most mature version of the project. The other editions might be made available at a later date. For those looking for a precompiled binary, you will find it in the source as well.
The project is currently no longer in development. Therefore, there's no support available for it. You're basically on your own.
EDIT: I've added a binary installer for those that actually want to use this software.